Cincinnati Financial (NASDAQ:CINF – Free Report) had its target price decreased by Keefe, Bruyette & Woods from $190.00 to $171.00 in a research report report published on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the insurance provider’s stock.
Several other research analysts also recently commented on CINF. Weiss Ratings downgraded Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research note on Thursday. Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a report on Wednesday, July 15th. Roth Capital raised their price target on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Bank of America downgraded shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $197.00 to $193.00 in a research note on Thursday, July 30th. Finally, Piper Sandler lifted their price target on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.60.
Get Our Latest Stock Report on CINF
Cincinnati Financial Trading Up 1.3%
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.39). The business had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $2.71 billion. Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%. During the same quarter in the prior year, the company earned $1.97 earnings per share. Equities analysts anticipate that Cincinnati Financial will post 8.35 EPS for the current fiscal year.
Cincinnati Financial Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio is presently 17.74%.
Insider Activity at Cincinnati Financial
In other news, Director Dirk Debbink acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were bought at an average price of $171.64 per share, with a total value of $171,640.00. Following the acquisition, the director directly owned 62,059 shares in the company, valued at $10,651,806.76. The trade was a 1.64% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.94% of the company’s stock.
Hedge Funds Weigh In On Cincinnati Financial
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Nykredit A S bought a new stake in shares of Cincinnati Financial in the second quarter worth $29,340,000. Bank of America Corp DE bought a new position in Cincinnati Financial during the 2nd quarter worth $347,891,000. Envestnet Asset Management Inc. raised its position in Cincinnati Financial by 1,474.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,242,991 shares of the insurance provider’s stock worth $415,267,000 after purchasing an additional 2,100,563 shares during the last quarter. National Pension Service lifted its holdings in Cincinnati Financial by 394.1% during the 2nd quarter. National Pension Service now owns 1,280,676 shares of the insurance provider’s stock worth $237,104,000 after buying an additional 1,021,465 shares during the period. Finally, Manning & Napier Advisors LLC acquired a new position in Cincinnati Financial during the 2nd quarter worth about $3,585,000. Institutional investors and hedge funds own 65.24% of the company’s stock.
Cincinnati Financial Company Profile
Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Through its subsidiaries, the company markets property and casualty insurance products primarily through a network of independent insurance agents.
Its offerings include commercial and personal property and casualty coverage, such as businessowners’ policies, commercial auto, workers’ compensation, homeowners and automobile insurance. The company also provides life insurance and related financial products through Cincinnati Life Insurance Company.
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